Lunai Bioworks (NASDAQ:LNAI) Shares Down 5.5% – Here’s What Happened

Lunai Bioworks Inc. (NASDAQ:LNAI) traded down 5.5% during mid-day trading on Wednesday . The stock traded as low as $3.05 and last traded at $3.09. 85,021 shares traded hands during trading, a decline of 97% from the average daily volume of 2,477,772 shares. The stock had previously closed at $3.27.

Analysts Set New Price Targets

LNAI has been the topic of a number of recent research reports. Wall Street Zen raised Lunai Bioworks to a “sell” rating in a research note on Saturday, May 23rd. Weiss Ratings reissued a “sell (e+)” rating on shares of Lunai Bioworks in a research note on Friday, April 10th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has a consensus rating of “Sell”.

Lunai Bioworks Price Performance

The firm’s 50 day moving average is $2.75 and its 200 day moving average is $4.31. The company has a market capitalization of $14.00 million, a PE ratio of -7.72 and a beta of 0.37.

Lunai Bioworks (NASDAQ:LNAI) last announced its quarterly earnings results on Friday, May 15th. The company reported ($0.10) earnings per share for the quarter. The business had revenue of $0.02 million for the quarter.

Institutional Trading of Lunai Bioworks

An institutional investor recently bought a new position in Lunai Bioworks stock. Millennium Management LLC bought a new position in shares of Lunai Bioworks Inc. (NASDAQ:LNAI) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 202,629 shares of the company’s stock, valued at approximately $288,000. Millennium Management LLC owned 0.87% of Lunai Bioworks at the end of the most recent quarter. 71.41% of the stock is currently owned by institutional investors and hedge funds.

About Lunai Bioworks

Enochian Biosciences, Inc, a pre-clinical stage biotechnology company, engages in the research and development of pharmaceutical and biological products for the human treatment of human immunodeficiency virus (HIV), hepatitis B virus (HBV), influenza and coronavirus infections, and cancer. The company’s lead candidate includes ENOB-HV-01 for autologous HIV curative treatment; ENOB-HV-11, a preventative HIV vaccine; ENOB-HV-12, a therapeutic HIV vaccine; and ENOB-HB-01, a coopting HBV polymerase. Its pipeline development products comprise ENOB-DC-11 off the shelf DC vaccine for multiple solid tumors; and ENOB-DC-21, a non-specific vaccine for intraturmoral injection.